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08 July 2019 - 19 July 2019

Financial management for development projects

08 July 2019 - 19 July 2019

Financial management for development projects

Financial management for development projects

Course Information

08 July 2019 - 19 July 2019

English

Turin Centre

Code: A9011958

English

Enrolment deadline: 21 June 2019

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Description

Description

Financial management is more than an administrative and control duty. Rather, sound financial management is a critical prerequisite for successful project delivery. Timely and precise financial data are indispensable for effective decision-making, as well as for corrective action by project management staff, to enhance the prospects of timely completion of deliverables within the planned project budget and scope. Participants will learn to design and operate project financial management systems in accordance with sound professional standards and the requirements of donors and governments. The course also explores the content of periodic financial reports on development projects.

Target audience

Target audience

This course is aimed at project directors and accounting and financial management staff engaged in the implementation of development projects, particularly those working for the United Nations, IFIs and EU-funded projects. Candidates are expected to have a basic knowledge of accounting in the public or private sector.

Objectives

Objectives

Course participants will be able to competently design and operate project financial management systems and execute corresponding payments/disbursements in accordance with sound professional standards and the harmonised requirements of donors and their respective governments.

Competencies addressed

Competencies addressed

Participants who successfully complete the training can expect to improve or enhance their knowledge and skills in the following areas:

Understand the fundamental definitions and concepts

  • Understand project financial management as part of the project cycle
  • Know the boundaries of project financial management and the related activities throughout the project cycle
  • Understand the implications of the organizational structure adopted and institutional factors on the design of a project financial management system
  • Be aware of the existence of standards: IPSAS, IFRS, ISA, ISSAI

Understand links between project intervention(s) on its operations and budgets

  • Estimate project budget based on the project planned outcomes/outputs/activities and in line with the agreed accounting system
  • Identify key stakeholders concerned by project finance

Know the legal and financial implications of project financing agreements on project deliveries

  • Know the main legal and financial implications of working with donor-funded projects on procurement, financial management, human and resource management

Develop a customized project financial system based on the financial management assessment

  • Construct a project financial management system embedded in the existing systems of the financing partners and on the organization hosting the project
  • Identify the right computerized solution(s) and system(s) for project financial management
  • Develop an operational project manual (financial management section)

Operate the project financial system

  • Engage stakeholders in project financial management and manage their needs and expectations as well as get and maintain their support for effective implementation
  • Collect, process and analyse project financial information and data
  • Prepare financial monitoring reports
  • Manage project budget changes
  • Implement internal controls and project auditing arrangements and ensure a follow-up
  • Manage project accounts, payments and disbursement procedures
  • Manage project fiduciary risks

Close project financially

  • Participate in transition to operations (implement exit strategy)
  • Facilitate asset transfers
  • Obtain required approvals to close
  • Close project accounts and contracts
  • Participate in end-of-project independent evaluations and audits

Adopt a life-long and life-wide learning paradigm, approaches and attitudes

  • Carry-on end-of-project recommendations in other projects and contexts
  • Disseminate learnings

Use of soft skills and others

  • Understand ethics and standards in financial management and know when and how to flag ethical and corruption issues
  • Possess the know-how to manage common project financial problems using a systematic approach

Format and Methodology

Format and Methodology

The course uses a highly-participative delivery methodology, combining interactive subject-matter presentations with plenary discussions and group assignments designed to enhance team work and to measure learning achievement.

Relevant training materials and reference documents will be  uploaded on the ITCILO E-campus. 

How to apply

How to apply

All open courses are available to interested candidates, particularly those involved in the implementation of public sector reform programmes or development projects funded by the UN, EU and/or multilateral banks as well as bilateral technical assistance programmes which normally have budgetary allocations earmarked for training expenses. 

In order to receive further information on the technical contents of a specific course, please contact: sdp@itcilo.org

Participation in our open courses is processed by filling an on-line application form accompanied by a commitment letter duly signed (with institutional stamp) by the participant’s sponsoring institution.

Contact us

sdp@itcilo.org

Tuition cost: 2335

Subsistence cost: 1400

Total cost: 3735

 

International Training Centre of the ILO

Viale Maestri del Lavoro, 10
10127 Turin - Italy

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